Brokerages Set Prologis, Inc. (NYSE:PLD) Price Target at $121.89

Shares of Prologis, Inc. (NYSE:PLD) have been given an average recommendation of “Moderate Buy” by the twenty research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $121.68.

Several research firms have weighed in on PLD. Morgan Stanley cut their target price on Prologis to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. BMO Capital Markets reduced their price objective on Prologis from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Scotiabank reissued a “sector underperform” rating and set a $97.00 target price (down previously from $133.00) on shares of Prologis in a research note on Monday, April 7th. BNP Paribas upgraded shares of Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group lifted their price target on shares of Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, January 28th.

Institutional Investors Weigh In On Prologis

Several large investors have recently modified their holdings of PLD. Empirical Asset Management LLC grew its stake in Prologis by 339.0% during the fourth quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 52,963 shares during the period. Cardano Risk Management B.V. boosted its holdings in shares of Prologis by 2.9% during the 4th quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after buying an additional 25,266 shares in the last quarter. Aviva PLC grew its position in shares of Prologis by 36.6% during the 4th quarter. Aviva PLC now owns 695,187 shares of the real estate investment trust’s stock worth $73,481,000 after buying an additional 186,187 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Prologis by 29.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock valued at $82,907,000 after acquiring an additional 179,880 shares in the last quarter. Finally, Allstate Corp increased its stake in shares of Prologis by 111.7% in the 4th quarter. Allstate Corp now owns 74,518 shares of the real estate investment trust’s stock valued at $7,877,000 after acquiring an additional 39,321 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Prologis Stock Up 1.4 %

Shares of NYSE PLD opened at $106.97 on Wednesday. The stock has a market capitalization of $99.26 billion, a P/E ratio of 26.74, a PEG ratio of 2.70 and a beta of 1.25. The stock’s fifty day moving average is $105.95 and its 200 day moving average is $111.43. Prologis has a 52 week low of $85.35 and a 52 week high of $132.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.43 and a current ratio of 0.75.

Prologis (NYSE:PLD) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.42 EPS for the quarter, beating the consensus estimate of $1.38 by $0.04. Prologis had a net margin of 45.50% and a return on equity of 6.44%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. Sell-side analysts forecast that Prologis will post 5.73 earnings per share for the current fiscal year.

Prologis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th will be given a $1.01 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 3.78%. Prologis’s dividend payout ratio (DPR) is currently 101.00%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.